Summary:

India's copper consumption increased by 13% annually, reaching 1,700 kilotons in FY24, driven by rapid infrastructure development and building construction. These sectors have traditionally accounted for 43% of total copper demand and 11% of GDP. Copper consumption grew at an average annual rate of 21% between FY21 and FY24, with further increases expected as infrastructure and construction continue to develop.

In H1 FY25, the infrastructure and construction sectors expanded by 9.1% and 6.8%, respectively. Copper demand is rising in line with India's GDP growth, fueled by public and private sector investments, increased consumer spending, and improvements in sectors such as building construction, transportation, and industrial goods. Mr. Mayur Karmarkar, Managing Director of the International Copper Association India, stated that copper demand will remain strong, especially in sectors experiencing double-digit growth.

Source: IBEF

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